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R (Greyhound Board of Great Britain Ltd) v Welsh Ministers [2026] EWHC 670 (Admin) What are the practical implications of this case? The ruling reinforces the constitutional divide between the courts and the legislature. It explains that the scheme and framework of the Government of Wales Act 2006 (GWA 2006) embody that separation of powers, and that any judicial attempt to recognise and enforce a common law obligation on Welsh Ministers to consult prior to introducing legislation in the Senedd would trespass upon that boundary. This is not a departure from established principle; case law has already upheld comparable rules for lawmakers in Scotland and at Westminster. However, this is the first express confirmation of the position for Welsh lawmakers, and the first time this dimension of the GWA 2006 has been analysed in such depth. The court examined earlier
The solution arrived through the United Nations Compensation Commission (UNCC), a quasi‑judicial body handling mass claims, created under UN Security Council Resolution 687. By addressing environmental harm—most notably via its ‘F4’ claim class—the UNCC set a seminal benchmark shaping how international law and contemporary arbitral panels allocate financial responsibility for wartime ecological devastation. With present-day wars in areas such as Eastern Europe and the Middle East bringing dam breaches, strikes on chemical facilities, and the burning of farmland, the UNCC’s legacy endures as an essential reference point for states, global investors, and companies engaged in post‑conflict arbitration. The F4 claims: Quantifying the unquantifiable Prior to the 1990s, mechanisms in international law for war reparations overwhelmingly favoured property loss, foregone earnings, and bodily injury. The natural world was commonly treated as a mute, non-compensable victim of armed hostilities...
Understanding the farming business as a business Many farms still use long-standing structures that arose by habit, not strategy. Sole traders, informal partnerships and outdated partnership deeds are common. While once effective, such setups can cause major issues around succession, tax planning and involving the next generation. A corporate team can take a fresh, business-led view of the farm, asking: Who owns the land and other critical assets? Who manages daily operations? Who carries the risk and who enjoys the return? What is the enduring plan for succession? From this review, the team can confirm whether the current setup is fit for purpose or if an alternative — for example an updated partnership agreement, a company, a limited liability partnership, or a blended model — would better meet the family’s aims. Tax efficiency through joined-up advice Tax sits at the centre of most
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In this issue: Tax treatment Corporate governance New content Useful information Dates for your diary Weekly highlights from other practice areas Tax treatment Reminder- Annual share schemes returns filing deadline is 6 July 2026 Companies that run either tax-advantaged or non-tax-advantaged employee share schemes where UK participants obtain shares or share-based awards must file an annual return online with HMRC for each scheme. For the 2025–26 tax year, the submission deadline is 6 July 2026, and a return can only be filed if the scheme has already been registered with HMRC. HMRC provides templates, guidance and technical notes setting out the details required. As each scheme type has its own template, care should be taken to select the correct version. Where a registered scheme has no reportable events during the relevant year, a nil return is still...
In this issue: New content Useful information Dates for your diary Weekly highlights from other practice areas New content Q& As Can an enterprise management incentives ( EMI) option be structured to be exercised on an exit, whilst also empowering the board—subject to the approval of the shareholders—with additional discretion to permit exercise in other situations? Can EMI scheme rules be amended so that performance conditions are introduced for future option awards, without in any way disturbing options already granted? May a fully listed company lawfully issue EMI options, provided that the other conditions set out in Schedule 5 to ITEPA 2003 are satisfied? Is a company able to grant EMI options to employees who are based outside the UK?......
In this issue: EMI Q& As HMRC Manuals tracker Dates for your diary Weekly highlights from other practice areas EMI Reminder: Increased EMI thresholds and period for exercise now apply From 6 April 2026, higher limits and a longer exercise window take effect for most companies qualifying for EMI, following the Finance Act 2026 in practice......
In this issue: EMI Employee benefit trusts Regulatory matters Trackers Dates for your diary Weekly highlights from other practice areas EMI HMRC updates ETASSUM for increased EMI thresholds and period for exercise HMRC has revised the guidance in its Employee Tax Advantaged Share Scheme User Manual to reflect higher thresholds and a longer exercise period, which will take effect for the majority of EMI-eligible companies from 6 April 2026, pursuant to Finance Act 2026, s 13. ETASSUM updated accordingly......
In this issue: Tax treatment Budgets, Autumn Statements and Finance Bills New content Useful information Dates for your diary Weekly highlights from other practice areas Tax treatment HMRC launches consultation on reporting close company payments to participators HMRC has opened a consultation on plans that, if taken forward, would bring in compulsory reporting rules for close companies (broadly, those controlled by five or fewer participators, or by any number of participators who are directors). Companies would be required to supply HMRC with details of their transactions with participators. Close companies would need to disclose information on transactions between the company and its participators, including: payments, whether in cash, by bank transfer or otherwise sales of assets to the company acquisitions of assets from the company dividends or other distributions, and any other transfer of value from the company to the...
In this issue: Budgets, Autumn Statements and Finance Bills Regulatory Useful information Trackers Dates for your diary Weekly highlights from other practice areas Budgets, Autumn Statements and Finance Bills Finance Bill 2026 passes all Parliamentary stages and secures Royal Assent The Finance Bill 2026 has progressed through every Parliamentary stage. Royal Assent was granted on 18 March 2026, meaning it is now in force as the Finance Act 2026. From a share incentives standpoint, the Act legislates for higher EMI limits and an extended exercise window (with exceptions for some Northern Ireland companies), provisions for PISCES (covering EMI and CSOP options), and capital gains tax treatment for disposals to employee ownership trusts ( EOTs). For further detail on these points, see News Analysis: Share Incentives weekly highlights—4 December 2025— Budgets, Autumn Statements and Finance Bills. See Finance Act 2026. 18 March...
In this issue: Tax treatment Regulatory Budgets, Autumn Statements and Finance Bills Corporate governance Useful information Dates for your diary Weekly highlights from other practice areas Tax treatment FTT rules that shares issued by the appellant were employment-related securities, and that disposals above market value triggered income tax and NICs ( Cooper Vision Lens Care Ltd v HMRC). The UK First-tier Tribunal ( Tax) for the most part dismissed the appellant’s challenge to HMRC’s conclusion that it ought to have operated PAYE and accounted for Class 1 National Insurance contributions on sums paid to three of the four shareholders on the company’s sale in 2014. The shareholders had, between themselves, agreed a non-proportionate division of the consideration, under which certain majority holders took a larger slice than they would have received on a strict pro rata basis. HMRC maintained that the uplift over market value was taxable as income and subject to NICs under...
In this issue: Tax treatment Budgets, Autumn Statements and Finance Bills New content HMRC Manuals tracker Useful Information Dates for your diary Weekly highlights from other practice areas Tax treatment HMRC publishes Employment Related Securities Bulletin 64 HMRC’s Employment Related Securities Bulletin 64 confirms that, for a short‑term business visitor ( STBV) within an EP Appendix 4 arrangement, companies will no longer be required to report non‑tax‑advantaged employment related securities ( ERS) data for these employees where no UK income tax or National Insurance contributions ( NICs) would arise. This applies to all earlier and future tax years. The ERS reporting duty persists only in the limited circumstances where UK income tax and NICs would be payable—for instance, where the STBV was formerly UK‑resident and share options were granted during that period. HMRC has also revised its...
In this issue Tax treatment Corporate governance Budgets, Autumn Statements and Finance Bills Useful Information Dates for your diary Weekly highlights from other practice areas Tax treatment ICAEW raises concerns regarding HMRC guidance on mandatory tax adviser registration Responding to HMRC’s recent guidance on the new obligation for tax advisers to register with HMRC (see News Analysis: Share Incentives weekly highlights—19 February 2026— Tax treatment), the ICAEW has flagged substantial reservations about how the rules will be rolled out. It considers HMRC’s initial guidance to have pared back the legislation so far that parts of it are misleading. Specifically, the ICAEW is worried that the guidance: fails to set out comprehensively when agents need an agent services account mischaracterises who qualifies as a ‘relevant individual’, a central criterion for registration omits sufficient detail in areas such as...
In this issue: Tax treatment Corporate governance Budgets, Autumn Statements and Finance Bills New content Useful Information Dates for your diary Weekly highlights from other practice areas Tax treatment HMRC issues guidance on compulsory tax adviser registration HMRC has released two guidance notes on the new obligation for tax advisers to register with HMRC......
In this issue: Employment law issues Tax treatment New content Useful Information Trackers Dates for your diary Weekly highlights from other practice areas Employment law issues Uncapped unfair dismissal—why bonus and equity are now central to exit risk Employment analysis: The Employment Rights Act 2025 was passed just before Christmas and employers are now preparing for its reforms, which will take effect in stages from as early as February 2026. Among the most significant changes for reward is the removal of the statutory cap on the compensatory award for unfair dismissal (currently the lesser of 52 weeks’ gross pay and £118,223). The risk is not merely “larger tribunal awards”. The true change is commercial: once ordinary unfair dismissal is no longer limited by a statutory ceiling, the value of claims becomes more fact-driven. That brings bonus and equity to the...
In this issue: Tax treatment Budgets, Autumn Statements and Finance Bills Regulatory matters Corporate governance Employee benefit trusts Useful Information Trackers Dates for your diary Weekly highlights from other practice areas Tax treatment HMRC publishes Employment Related Securities Bulletin 63 HMRC has issued Employment Related Securities Bulletin 63, confirming a change to the reporting of employment related securities ( ERS) net settlements. From April 2026, when completing the ‘ Other’ end-of-year return for non tax-advantaged schemes—irrespective of the tax year—employers will: no longer be required to enter two separate lines to report an ERS net settlement on the end-of-year return only provide a single row of data for each individual employee continue to keep employer records evidencing correct accounting for income tax and NICs and how recoveries were made from...
In this issue Budgets, Autumn Statements and Finance Bills Useful Information Trackers Dates for your diary Weekly highlights from other practice areas Budgets, Autumn Statements and Finance Bills Finance Bill 2026: Public Bill Committee amendments On 23 January 2026, the government tabled further changes to the Finance Bill 2026, including amendments 37 and 38 to revise clause 13. Clause 13 extends the timeframe to exercise an enterprise management incentives ( EMI) qualifying option from ten to fifteen years, and the government’s amendments would apply a matching adjustment for capital gains tax business asset disposal relief ( BADR), resolving the anomaly that would otherwise have affected the tax treatment of EMI options. Both amendments were scrutinised and approved during the Finance Bill Committee’s first sitting on 27 January 2026, with the clause, as amended, agreed to and ordered to stand part of the Bill....
In this issue: Budgets, Autumn Statements and Finance Bills Corporate governance Useful Information Dates for your diary Weekly highlights from other practice areas Budgets, Autumn Statements and Finance Bills Welsh Final Budget for 2026 to 2027 The Welsh Final Budget for 2026 to 2027 has now been published. As outlined at the Draft Budget, it sets the Welsh Rates of Income Tax at 10p across all bands, keeping them in line with the income tax paid by taxpayers in England and Northern Ireland. This follows the UK Budget on 26 November 2025, which announced measures on income tax charged on property income, including amendments to the Welsh rates and a provision—subject to the Welsh Government accepting the power—for the Senedd to establish separate Welsh rates for property income. These changes are scheduled for the tax year beginning 6 April 2027, the...
In this issue: Budgets, Autumn Statements and Finance Bills Corporate governance Useful Information Trackers Dates for your diary Weekly highlights from other practice areas Budgets, Autumn Statements and Finance Bills Scottish Budget Finance Secretary Shona Robison has outlined the Scottish Budget for 2026–27. With ministers having promised to keep income tax rates and bands steady ahead of the Scottish elections, only minor tax adjustments feature. The 19% Starter band threshold will move from £15,397 to £16,537. The 20% Basic rate will apply to earnings between £16,538 and £29,526 (previously £15,398 to £27,941). Consequently, the 21% Intermediate rate will start at £29,527, rather than £27,942. For details of the current Scottish tax rates relevant to share incentive arrangements, see Practice Note: Tax and other rates which are relevant to share incentives. References: LNB News 14/01/2026 1; Scottish Budget 2026 to 2027;...
In this issue: SAYE Tax treatment Corporate governance Useful Information Dates for your diary Weekly highlights from other practice areas SAYE Change in bonus rates for Save As You Earn ( SAYE) share option schemes HMRC has confirmed updates to the bonus rates and the early leaver rate for Save As You Earn ( SAYE) schemes, which will apply to new invitations issued from 2 January 2026. This follows HMRC’s 2023 introduction of an automatic bonus rate mechanism for SAYE, set by reference to the Bank of England base rate (see: Share Incentives weekly highlights—1 June 2023— SAYE Schemes). After the Bank of England announced a change to its base rate, HMRC has stated that the revised SAYE rates are: three-year SAYE savings contract bonus rate: 0.4 multiplied by one monthly contribution five-year SAYE savings contract bonus rate: 1.1...
In this issue: Share Incentives weekly highlights 2025/2026 Corporate governance Budgets, Autumn Statements and Finance Bills Useful Information Dates for your diary Weekly highlights from other practice areas Share Incentives weekly highlights 2025/2026 This is our last Weekly Highlights of 2025. The first Weekly Highlights of 2026 will appear on 8 January 2026, with emails to customers sent on 9 January 2026. To stay current with daily and weekly developments, refer to the ‘ Daily and weekly news alerts’ section for details on how to keep up to date with the latest news on a daily and weekly basis. From everyone in the Share Incentives team, we hope you enjoy the festive season and wish you a happy new year. Corporate governance Pensions UK publishes its Stewardship and Voting Guidelines 2026 Pensions UK (formerly the Pensions and Lifetime Savings Association ( PLSA)) has released its Stewardship and Voting Guidelines for 2026. On...
In this issue: Corporate governance Useful Information Dates for your diary Weekly highlights from other practice areas Corporate governance Glass Lewis publishes 2026 Benchmark Policy Guidelines Glass Lewis has released its 2026 Benchmark Policy Guidelines for the UK. The principal changes from the 2025 guidelines will be of particular interest to share incentives specialists: the guidelines now set out Glass Lewis’ new proprietary pay-for-performance model, outlining score ranges, the specific tests within the balanced scorecard, and details regarding the selection of peers......
Why was an independent review of the loan charge commissioned, and what were the objectives of the review? For nearly ten years, the Loan Charge has stirred continuing dispute. An independent review in 2019 delivered some middle ground between HMRC and affected taxpayers, yet many have still been unable to finalise their positions with HMRC. A further independent review, announced at Autumn Budget 2024, was designed to break this deadlock, enabling this group to reach settlements with HMRC while safeguarding fairness for all taxpayers and preserving HMRC’s ability to collect tax that is properly due. Its purpose was to unlock resolution for those still stuck, without diluting equity across the system or weakening HMRC’s collection remit. What were the recommendations made by the Final Report? The Final Report maintains that, although taxpayers must take responsibility for their own tax affairs, the Loan Charge was an...
In this issue: Budgets, Autumn Statements and Finance Bills Tax treatment Company law, governance and regulatory matters Trackers Useful information Dates for your diary Weekly highlights from other practice areas Budgets, Autumn Statements and Finance Bills Budget 2025 resolutions passed, and Finance Bill 2026 published After an unforeseen delay, on 28 November 2025 HMRC issued the Budget 2025 overview of tax legislation and rates ( OOTLAR), together with Annex A outlining the 2026–27 tax rates and allowances. The Budget Resolutions were agreed on Tuesday 2 December 2025, and the Finance Bill 2026 followed on Thursday 4 December 2025. As it is the second Finance Bill in the 2024–2026 Parliamentary session, it has been brought forward as the ‘ Finance ( No 2) Bill’. From a Share Incentives angle, the Bill sets out draft measures addressing increases to EMI...
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When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...
This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...
Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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